Gazumping is making an unwelcome to return to the Marlborough property market according to estate agent Edward Hall.
Mr Hall, of Smiths Gore, says the practise – when a seller accepts an oral offer of the asking price from one potential buyer, but then accepts a higher offer from someone else – is returning due to the scarcity of popular properties.
“Gazumping is making a reappearance as the scarcity of popular properties means good ones outstrip expectations, but others are sticking on the market, often because vendors believe London-based hype,” said Mr Hall.
Meanwhile, the 10 percent property price increases recorded in London have yet to spread to Wiltshire, where a more modest annual rise of two-and-a-half percent is reported.
“ The heady headlines of national average house prices are miles away from the reality – about 77 miles from the London reality, actually” said Mr Hall.
